Investor Tools

Email Newsletter

Otjikoto Mine & Ondundu JV Project – Namibia

Please note that this page is currently being updated. Please click here for B2Gold's most recent news release re: Q4 & Year-End 2017 Production & Revenue & Guidance for 2018.

The total exploration budget for Namibia in 2017 is $5.1 million mainly for 5,000 metres of diamond drilling on the Otjikoto licence area, and 12,000 metres of diamond drilling and 5,000 metres of RAB drilling on the Ondundu joint venture project. An additional 5,000 metres of diamond and RC drilling are committed to new targets in and around the Otjikoto area.

The Wolfshag resource remains open down-plunge which may be exploitable in the future by underground mining – drilling continues to test the down-plunge extension.

Otjikoto Mine – Mineral Reserve and Mineral Resource Estimates:

Mineral Resource estimates for the Otjikoto Mine are reported from B2Gold’s Mineral Resource model dated December 2015. Models have been depleted to December 31, 2016 topography. The effective date of the Mineral Resources is December 31, 2016. No Measured Mineral Resources were estimated.

Otjikoto Indicated Mineral Resources Statement

Area

Tonnes
(t)

Gold Grade
(g/t Au)

Contained Gold Ounces
(oz)

Contained Gold Kilograms
(kg)

Otjikoto

22,900,000

1.14

839,000

26,100

Wolfshag

3,300,000

2.85

303,000

9,400

ROM Stockpile

1,480,000

1.00

48,000

1,500

LG Stockpile

2,720,000

0.46

40,000

1,200

Total

30,410,000

1.26

1,230,000

38,200

Otjikoto Inferred Mineral Resources Statement

Area

Tonnes
(t)

Gold Grade
(g/t Au)

Contained Gold Ounces
(oz)

Contained Gold Kilograms
(kg)

Otjikoto Open Pit

150,000

0.70

3,000

100

Wolfshag Open Pit

260,000

0.68

6,000

200

Wolfshag Underground

1,300,000

6.92

290,000

9,000

Total

1,720,000

5.42

299,000

9,300

Footnotes(Click to expand)

Mineral Resources have been classified using the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves. Mineral Resources are reported inclusive of those Mineral Resources that have been modified to Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability

All tonnage, grade and contained metal content estimates have been rounded; rounding may result in apparent summation differences between tonnes, grade, and contained metal content

Mineral Resources are reported on a 90% attributable basis; the remaining 10% interest is held by EVI

The Qualified Person for the estimate is Tom Garagan, P.Geo., who is our Senior Vice President, Exploration

Mineral Resources that are amenable to open pit mining are reported at a cutoff of 0.40g/t Au. Mineral Resources that are amenable to underground mining are reported at cutoff of 3.00 g/t Au

Mineral Reserve estimates for the Otjikoto Mine are reported from B2Gold’s Mineral Resource model that has an effective date of December 31, 2016, and have been modified from the Indicated Mineral Resources. No Proven Mineral Reserves have been reported.

Probable Mineral Reserves Statement

Area

Tonnes
(t)

Gold Grade
(g/t Au)

Contained Gold Ounces
(oz)

Contained Gold Kilograms
(kg)

Otjikoto

15,580,000

1.24

622,000

19,400

Wolfshag

3,350,000

2.56

276,000

8,600

ROM Stockpile

1,480,000

1.00

48,000

1,500

LG Stockpile

2,720,000

0.46

40,000

1,200

Total

23,140,000

1.33

986,000

30,700

Footnotes(Click to expand)

Mineral Reserves have been classified using the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves

All tonnage, grade and contained metal content estimates have been rounded; rounding may result in apparent summation differences between tonnes, grade, and contained metal content

Mineral Reserves are reported on a 90% attributable basis; the remaining 10% interest is held by EVI

The Qualified Person for the estimate is Peter Montano, P.E., who is our Project Director

Mineral Reserves that will be mined by open pit methods assume a gold price of US$1,250/oz, metallurgical recovery of 98%, and operating cost estimates of US$1.75/t mined (mining), US$13.00/t processed (processing) and US$3.00/t processed (general and administrative).

Dilution and ore loss was applied through block averaging such that at a cutoff of 0.45 g/t Au, there is a 1% decrease in tonnes, a 4% reduction in grade and 5% reduction in ounces when compared to the Mineral Resource model

Mineral Reserves are reported at a cutoff of 0.45 g/t Au

Note: For more details on B2Gold’s Otjikoto Mine and Ondundu JV Project, click here for the Company’s Annual Information Form 2017 and click here for the Company's most recent Management’s Discussion and Analysis (these are also available on SEDAR at www.sedar.com and on the U.S. Securities and Exchange Commission’s website at www.sec.gov).